Tele Quiz Q2 2014

10 Questions | Total Attempts: 44

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Tele Quiz Q2 2014

Questions and Answers
  • 1. 
    The insured is traveling down the road and strikes a 4x4 in the road. The insured would be reimbursed for the tire and rim minus the collision deductible. 
    • A. 

      True

    • B. 

      False

  • 2. 
    The Personal Auto Policy covers the insured's obligations  in the event of damage to or loss of any "rental vehicle" rented by the "insured" anywhere in the United States, it's territories or possessions and _____________.
  • 3. 
    The insured is attempting to change the oil in his vehicle. Before he could get the jack secured, the vehicle slipped off the jack and the jack pushed the radiator up causing damage to the radiator and condensor. This would be a ________________ loss.
  • 4. 
    Based on the policy wording, if a named insured shown in the declaration dies during the policy period, coverage is provided for the legal representative of the insured and the surviving children if residents of the same household at the time of death.
    • A. 

      True

    • B. 

      False

  • 5. 
    If upon notification of a loss, the insurer intends to exercise it's right to inspect the damages it shall have _______ days following receipt of notice to do so
    • A. 

      3 calendar days

    • B. 

      6 business days

    • C. 

      6 calendar days

    • D. 

      3 business days

  • 6. 
    If a second inspection of the vehicle is required by the insureer in order to evaluate open items on the original estimate, or hidden damage discovered during repair, the inspection shall be performed within _______ following the date of notice of additional damages.
    • A. 

      3 business days

    • B. 

      2 business days

    • C. 

      2 calendar days

    • D. 

      30 calendar days

  • 7. 
    What section of Part 216 Unfair Claims Settlement Practices and Claim Cost Control Measures dictates standard for fair settlement of a third party damage claim?
    • A. 

      396z

    • B. 

      216.10

    • C. 

      216.7

  • 8. 
    Under Regulation 64  Section 216.7 (7) applies to third party damage claims as well as first party physical damage claims.
    • A. 

      True

    • B. 

      False

  • 9. 
    Our standard procedure for auto hail damages is to assign to an appraiser for inspection at notice of claim.
    • A. 

      True

    • B. 

      False

  • 10. 
    The insured's lawful or economic interest in the preservation of the vehicle from loss or destruction is otherwise known as _________
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